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ZUG, Switzerland, 4 May 2023 – Montana Capital Partners (“mcp”) plans to open its first international office in New York in June.
The office opening corresponds with the recent hiring of David Overton as director and head of the New York office. Overton will report into Eduard Lemle who will continue to oversee mcp’s investment activities in the U.S. from mcp’s Swiss headquarters. mcp is a global private equity firm focused on the secondary market.
Building on over a decade of successful secondary investments in the U.S. market, and with half of its last three funds invested there, mcp is establishing a team of four investment professionals in New York, led by Overton locally. Two investment professionals will transfer from Switzerland to further strengthen its successful private equity secondaries investment activities in the U.S.
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The team will be responsible for sourcing and executing secondary transactions in line with the four pillars of mcp’s highly differentiated strategy: proactive sourcing, customized transactions, risk mitigation, and exposure to attractive private companies through a focus on the mid-market.
Overton joins from Newbury Partners, where he was a director and member of the investment committee. Prior to this, he held various roles at Coller Capital and Merrill Lynch. He graduated from Howard University and holds an MBA from Harvard Business School.
Eduard Lemle, managing partner at mcp, commented: “The current more volatile macro-economic environment represents a unique opportunity for private equity secondaries, as it greatly increases investors’ demand for liquidity, offering the possibility for compelling return opportunities for investors. This makes it an exciting time for David to join us as we further build out our coverage of the U.S. market for both limited partner (LP)-led and general partner (GP)-led transactions. With nearly 12 years in private equity secondaries, he will play an integral part in continuing the growth of our highly differentiated investment strategy in the U.S.”
David Overton, director and head of New York office at mcp, added: “mcp is a leading player in the private equity secondaries mid-market with a highly differentiated strategy and a long history of successful investments in the U.S. I am looking forward to helping the firm capture the growth potential in the U.S. and in mid-market secondary transactions more broadly. This is an especially compelling moment to pursue mcp’s investment mandate, as it offers both diversification and attractive returns even in more volatile market environments.”
Dr. Marco Wulff, managing partner and CEO at mcp, concludes: “Establishing a team and physical footprint in the U.S. reflects our desire to consolidate our position as a leading secondary mid-market firm with a global investment mandate. mcp will remain focused on finding the most attractive secondary opportunities around the globe for its investors.”
Montana Capital Partners (“mcp”) is a Swiss-based private equity firm focused on attractive niches of the secondary market, as well as on high-quality asset management solutions. mcp acts as investment advisor to five secondary funds with total assets under management of more than €3.4 billion (US$3.5 billion). All mcp funds were oversubscribed and closed at their hard cap.
The firm focuses on proactively sourced secondary transactions to create innovative and customized liquidity solutions that mutually benefit investors as well as sellers and GPs. Such solutions include structures like deferred payments, earn-outs, preferred equity and securitization elements, as well as tailored solutions for GP-led transactions such as tender offers, continuation funds (for either entire funds or for single/multiple assets), spin-outs, and stapled transactions.
In 2021, mcp joined forces with PGIM to strengthen its market positioning and global footprint. The firm benefits from PGIM’s global network and expertise, while providing access to a new and differentiated investment opportunity to PGIM’s clients. For more information visit mcp.eu.
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), a leading global investment manager with more than US$1.2 trillion in assets under management as of 31 Dec. 2022. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
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